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Just who are the mysterious agencies who take it upon themselves to grade everything from countries to corporations – and how much power do they really wield?

(Guardian) – … Along with Fitch, and Standard & Poor’s (S&P), Moody’s are one of the Big Three credit ratings agencies. They sound like a trio of preppy clothing companies, but in fact they are some of the most powerful players in world finance. Specifically, they rate the “creditworthiness” of companies and currencies. In the process, it is hoped that they give investors an idea which investments are safest to make. Read the rest of this entry »